Cambridge-based AI startup CuspAI has raised $450 million in a Series B funding round, valuing the company at $2.6 billion, the company announced on Monday. Founded in 2024 by Chad Edwards and Max Welling, CuspAI develops AI platforms aimed at discovering new materials for sectors including semiconductors, clean energy, and advanced manufacturing, according to sifted.eu.
The funding round was led by Kleiner Perkins and NEA, with participation from Jeff Bezos's family office Bezos Expeditions. Other investors include Glade Brook Capital Partners, Lux Capital, AMD Ventures, Britain's Sovereign AI Venture Fund, the Netherlands' Invest-NL, and venture capitalist John Doerr. This latest raise follows a $100 million funding round in September last year, which valued the company at roughly $600 million, showing a more than fourfold increase in valuation, per sifted.eu.
CuspAI’s technology addresses the growing demand for AI-driven scientific research tools, particularly in materials science, where discovering new materials can accelerate innovation in multiple industries. The company's valuation places it among the leading European AI startups focused on scientific applications. The involvement of prominent investors like Kleiner Perkins and Bezos Expeditions highlights the increasing interest in AI startups that combine deep tech with practical industrial applications, according to sifted.eu.
CuspAI plans to use the new capital to expand its platform and accelerate the discovery of novel materials. The company’s $450 million Series B round was announced on July 20, 2026, marking a significant milestone in its growth trajectory, as reported by sifted.eu.